American Bill Miller vows he will not let Rangers down

BILL MILLER last night promised there will be no repeat of the Craig Whyte “travesty”.

Bill Miller last night promised there will be no repeat of the Craig Whyte “travesty” []

And the American – named preferred bidder for Rangers yesterday – has vowed to maintain the traditions of the club, and avoid liquidation.

Miller said: “What Rangers – which includes supporters, players, staff and anyone with the club at heart – have been put through, particularly in recent months, is a travesty and from what I can see they have been badly let down by a number of individuals.

“This will not happen on my watch should I become the custodian of this great club.”

Miller’s plan to transfer the assets – players, Ibrox and Murray Park – into a newco and at the same time try and reach a company voluntary arrangement (CVA) with creditors owed cash won favour with administrators Duff and Phelps, who believe a deal will be closed by May 11.

We believe that our bid was, and remains, the best bid for Rangers and its supporters

Paul Murray

Duff and Phelps are of the opinion that disgraced Whyte will not receive a penny and that HMRC will endorse the plan.

Although there is no exclusivity deal it’s unlikely Miller’s bid will be gazumped at the 11th hour.

Tennessee-based Miller said: “It is a great honour and privilege to have the opportunity to buy Rangers FC.

“I respect the club as one of the world’s great sporting institutions and one of the UK’s most venerable football clubs.

“Under my stewardship, Rangers will be managed with fiscal discipline such that the club not only conforms to UEFA Financial Fair Play regulations but also that Rangers will never have to suffer this kind of anguish again.

“From now on, Rangers will live within its means – no excuses.

“I have fought hard to try and offer Rangers a fresh start and I hope all Rangers fans will continue to rally round the club as we endeavour to leave behind this distressing chapter in the club’s history. Finally, and perhaps most importantly, we have worked hard to ensure that there is no loss of history, no loss of tradition and no liquidation of Rangers Football Club. I wouldn’t have it any other way.”

After the shambles of the Whyte takeover, the SFA are on guard to prevent another charlatan getting a foothold in Scottish football.

An SFA statement read: “It is our intention to enter into detailed discussions with Mr Miller to clarify his position and to establish his strategy to ensure a sustainable future for the club.”

The SPL have already held talks with the Miller camp and a league spokesman said they would continue discussions with him.

Miller beat off the Blue Knights to win preferred bidder status, but last night they hit back at the decision.

Former Ibrox director Paul Murray, who had spearheaded their bid with Sale Sharks owner Brian Kennedy, warned of the financial consequences of Miller’s proposal.

Murray said: “We believe that our bid was, and remains, the best bid for Rangers and its supporters.

“We were therefore surprised and disappointed to be informed that a preferred, non-exclusive bidder has been appointed which appears to entail the transfer of the assets and Rangers’ business into a newco structure.

“Whilst we acknowledge that the acceptance of a newco structure would be easier for Duff and Phelps to execute, we were not prepared to follow that course of action.

“We believe that the complexities of a newco process should not be underestimated and the likely loss of European football for a minimum period of three years may carry longer term financial consequences to Rangers.

“Under our CVA-proposed transaction, these issues could have been addressed more easily.

“Whilst we also acknowledge that the delivery of Craig Whyte’s shares created a degree of uncertainty, our frustration lies in the fact that it is only in recent days that this issue been seen as an impediment in enabling us to make an unconditional CVA offer.

“With the end of the season now close, the uncertainty and delay has to be resolved as there are many key decisions to be made to ensure the club can plan properly for next season and beyond.”